July 22 JPMorgan Chase & Co is close to a deal to sell half its private equity business, One Equity Partners, the Wall Street Journal reported, citing people familiar with the matter.
JPMorgan is in advanced discussions with investment firms Lexington Partners LP and Carlyle Group LP's unit AlpInvest Partners, the people said. (on.wsj.com/1nkvk8W)
JPMorgan has no plans to invest in One Equity funds in the future, the Journal said citing the people.
Reuters had earlier reported that One Equity Partners had investments valued at more than $4 billion, according to sources.
The bank announced last July it was spinning off One Equity, its last remaining private equity operation, because the unit was not core.
Representatives for JPMorgan and Lexington Partners were unavailable for comment.
A spokesperson for Carlyle Group declined to comment.
(Reporting by Abinaya Vijayaraghavan in Bangalore; editing by Andrew Hay)
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